Gold price to go steady, dips imminent?

Ark_Welder

DiggerUK wrote: »

Shall I put the oven on???

Only if it isn't gas.....


UK-listed physical, GBSS (Sterling version of GBS), established 2004. Allocated and audited, London storage.

An OEIC I hold also has PHAU (Sterling: PHGP).


Myself, I see no need to venture from my home shore for this. Now, though, my holdings are a little bit of physical Shiny Shiny that I can love and caress as the want takes me, with the rest being indirect holdings via ITs and OEICs. So up to the relevant Manager to take a view.

lvader

Gold correcting quite strongly now despite the bad consumer confidence results, I'm expecting a correction to 1650 or 1500 if that doesn't hold. US$ also likely to weaken so the drop in pounds will be bigger.

guyblue10

Hi Digger

The paper ones you mention are all US I think, so when you buy or sell there's also a currency difference

In the UK therre are GBSS and PHAU already mentioned. There are also...

BULL - tracks the Gold price
LBUL - a "leveraged etf" tracks twice the price of gold - gold goes up £20, this goes up £40........gold goes DOWN £20, this also goes DOWN £40
SBUL - a "short etf" - it does the opposite of gold....gold goes down £20, SBUL goes up £20

Fascinating stuff. I don't think they're backed by physical gold - if that matters to you....but be very careful with them - particularly at the moment

omits

IronWolf wrote: »

I would advise people taking a punt on gold to do so in the most liquid form they can. If you buy physical, when the bubble bursts you'll have a much harder time selling it, and will probably get a lower price for it.

So I'm talking about ETF's backed by real gold.

There are risks buying it via ETFs as the ETF "supplier" could go bust!?

lvader

llubdlog wrote: »

Will you buy back in the dip?

Is it worth it, or just hold on buying more in the dips?

I think it was important to have the experince of selling, now I know exactly how it works and what I need to do if I need to sell quickly.

I still have some gold and will look to add to it if and when the opportunities come up.

Ark_Welder

guyblue10 wrote: »

BULL - tracks the Gold price
LBUL - a "leveraged etf" tracks twice the price of gold - gold goes up £20, this goes up £40........gold goes DOWN £20, this also goes DOWN £40
SBUL - a "short etf" - it does the opposite of gold....gold goes down £20, SBUL goes up £20

Fascinating stuff. I don't think they're backed by physical gold - if that matters to you....but be very careful with them - particularly at the moment

Anything that offers leveraged or short positions is synthetic. BULL is also synthetic. So all three are open to counterpary risk - something to be taken into consideration.

omits wrote: »

There are risks buying it via ETFs as the ETF "supplier" could go bust!?

http://www.etfsecurities.com/en/faqs/etfs_faqs.asp#13

lvader

llubdlog wrote: »

Just out of interest where do you put your fiat currency when you sell gold? Where else is as safe as precious metals?

Well short term there isn't anything safer than cash, however since I like some risk I baught some shares in Centrica and CEY (gold miner).

experience08

llubdlog wrote: »

Just out of interest where do you put your fiat currency when you sell gold? Where else is as safe as precious metals?

Swiss Franc?

lvader

The same Swiss Franc that just dropped 5% in a day? the same Swiss Franc which is about to get pegged to the Euro?

experience08

lvader wrote: »

The same Swiss Franc that just dropped 5% in a day?

Didn't it recover that loss?